Amid stuttering loan demand, ICICI Bank to offer holistic solutions to corporates

Amid stuttering loan demand, ICICI Bank to offer holistic solutions to corporates

2021-06-16 14:48:17

With corporate loan demand stuttering amid difficulties on the economic front, on Wednesday launched a solution, aimed at profiting by offering a wider set of services to high-value clients.

The second-largest private sector lender also said that the corporates are slower in adopting digital solutions as compared to the retail segment, and added that the solution focuses on tech-based new age offerings.

It can be noted that even before the pandemic, corporate loan growth was trailing for banks,

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SBI staff union, global associations ask RBI to rethink NUE policy

SBI staff union, global associations ask RBI to rethink New Umbrella Entity (NUE) policy

2021-06-08 23:37:36

Bengaluru | Mumbai: A group of Indian as well as global unions, including State Bank of India’s staff association, has written to the Reserve Bank of India seeking a review of the New Umbrella Entity (NUE) framework.

Under the RBI NUE policy, private sector companies can set up pan-India retail payments entities with similar powers as the National Payments Corporation of India (NPCI).

The group, comprising associations such as UNI Global Union, IT for Change, Joint Action Committee

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Central Bank of India allots over 280 crore preferential shares to govt for capital infusion

Central Bank of India allots over 280 crore preferential shares to govt for capital infusion

2021-05-30 09:35:31

NEW DELHI: on Saturday said it has allotted over 280 crore shares to the government on preferential basis for Rs 4,800 crore capital infusion in the bank.

The capital raising committee of the bank’s board at a meeting held on May 29, 2021 allotted 280,53,76,972 equity shares at the issue price of Rs 17.11 per share to the government aggregating up to Rs 4,800 crore, the bank said in a BSE filing.

The allotment has been done subsequent

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RBI imposes penalty on City Union Bank, 3 other lenders

RBI imposes penalty on City Union Bank, 3 other lenders

 

The RBI has imposed monetary penalty on , Tamilnad Mercantile Bank and two other lenders for contravention of certain directions issued by the central bank.

A penalty of Rs 1 crore has been imposed on City Union Bank Limited for contravention of/non-compliance with certain provisions contained in the RBI (Lending to Micro, Small & Medium Enterprises (MSME) Sector) Directions, 2017 and the circulars on Educational Loan Scheme and Credit Flow to Agriculture – Agricultural Loans – Waiver of Margin/Security

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Banks likely to transfer about 80 large NPA accounts to NARCL

Banks likely to transfer about 80 large NPA accounts to NARCL

 

Banks are likely to transfer about 80 large NPA accounts for the resolution to National Asset Reconstruction Company Ltd (NARCL), which is expected to be operational by next month.

NARCL is the name coined for the bad bank announced in the Budget 2021-22. A bad bank refers to a financial institution that takes over the bad assets of lenders and undertakes resolution.

The size of each of these NPAs accounts is over Rs 500 crore and the banks have

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Impact on NBFC asset quality to become clear only gradually

Impact on NBFC asset quality to become clear only gradually

 

Non-banking finance companies have managed to survive the first wave of Covid-inflicted slowdown but given the persistence of infections, full effects of lockdowns and suspension of business on their asset quality will only be known gradually, the Reserve Bank of India has said.

Among sectors NBFCs lend to, the industrial sector, particularly micro and small and large industries, were the hardest hit by the pandemic as they posted a decline in credit growth, RBI said in its latest monthly

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Payment defaults rise 50% in May for NBFCs

Payment defaults rise 50% in May for NBFCs

 

Ravaged by the second wave of the pandemic, non-bank lenders have seen a 50% rise in customers missing payments in the first fortnight of May, threatening to push up overall defaults to perilous levels.

Most non-bank finance companies (NBFCs) have been forced to stop door-to-door collections after several payment pick-up agents succumbed to the virus in the past six weeks or so.

Despite the Reserve Bank of India (RBI) allowing the recast of small loans, non-banks say they won’t

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Restructuring 2.0: can RBI’s pre-emptive move help avert a crisis in retail loans?

Restructuring 2.0: can RBI’s pre-emptive move help avert a crisis in retail loans?

 

The Reserve Bank of India (RBI) rolled out a slew of measures last week to help small borrowers tide through the second wave of the pandemic. In a circular dated May 5, the banking regulator said individuals and small businesses with loan exposure of less than INR25 crore and did not opt for the restructuring last year can do so now if the monthly instalments are paid till the end of FY21.

Borrowers in this category who had recast

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